SCHMOLZ + BICKENBACHInvestor PresentationQ2/H1 2015 ResultsEmmenbrücke, 25 August 2015

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Disclaimer

This publication constitutes neither a prospectus within the meaning of article 652a and/or 1156 of the Swiss Code of Obligations nor a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. This publication constitutes neither an offer to sell nor a solicitation to buy securities of SCHMOLZ + BICKENBACH. The securities have already been sold.

This document shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to U.S. persons (as such term is defined in Regulation S under the Securities Act) absent registration or an exemption from registration under the Securities Act. The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States.

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32

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BUSINESS OVERVIEW Q2/H1 2015

FINANCIAL PERFORMANCE Q2/H1 2015

OUTLOOK AND GUIDANCE 2015

APPENDIX

4

BUSINESS OVERVIEW Q2/H1 20151

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» Closing on 22 July 2015

» The transaction obtained full clearance (without conditions) of the European anti-trust authorities.

» In 2014, the divested activities achieved revenues of ca. EUR 600 million, EBITDA of ca. EUR 7 million, and employed around 1 000 professionals

» The agreed enterprise value for the steel distribution units was EUR 88.6 million. The preliminary purchase price (equity value) amounts to EUR 56.6 million (max. amount) and will be finally known after discussion between the parties

» On 22 July 2015, JACQUET METAL SERVICE paid an amount of EUR 48.6 million

» The closing implies that from now on SCHMOLZ + BICKENBACH and the specific distribution units are operationally and legally independent although they are allowed to use the trademark SCHMOLZ + BICKENBACH for a limited time period

Closing of sale of specific distribution units

Business Overview

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Markets and prices

» Order intake decreased slightly, order backlog 11.6% below prior year

» Customer industries: automotive still with strong demand, engineering lowered expectations to no-growth-scenario, significantly lower oil price leads to substantial decrease in active rig count (fracking)

» Persisting pressure on base prices

» Nickel price with downwards trend since September 2014

Operational development (continued operations)

» Sales volume decreased by 2.3% (11 kt) to 469 kt (Q2 2014: 480 kt)

» Revenue decreased by 2.2% to EUR 723.2 m (Q2 2014: EUR 739.1 m)

» Gross margin improved to 38.2% (Q2 2014: 38.0%)

» EBITDA decreased by 17.0% to EUR 58.0 m (Q2 2014: EUR 69.9 m) but improved compared to Q1 2015 (EUR 54.5 m)

» EBITDA margin decreased to 8.0% (Q2 2014: 9.5%) but also improved compared to Q1 2015 (7.1%)

Operational overview Q2 2015

Business Overview

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Order intake, order backlog and sales volume

Business Overview

379 416 417 424 426 402 413 414 410 409 416 452509 552 571 584 564 539 520 520 498 476 474 497536 567 569 545 513 476

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Order backlog 2013 – 2015 I in kt

2013 2014 2015

156 158170

154146

169

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Sales volume 2015 I in kt

2015*

80120160200240

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Incoming orders 2013 – 2015│ in kt

2013 2014 2015

*continuing operations only, prior-year figures are not comparable

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Sales volume and revenue by product groups

Business Overview

Tool steel Stainless steel Engineering steel

Total

» Better product mix with higher portion of tool steel and stainless steel revenues

» Revenue increased slightly despite lower sales volume due to product mix and appreciation of USD against EUR

Revenue* split by product groups

38.1% (37.6%)

Engineering steel

44.1% (45.8%)

Stainless steel

Tool steel

15.0% (14.1%)

Other

2.8% (2.5%)

H1 2015 (H1 2014 in brackets)*

*continuing operations, 2014-figures have been adjusted accordingly

-3.2-4.3

-2.4 -2.9

5.9

1.4

-3.7

0.1

Change in sales volume* and revenue* (H12015 to H1 2014)│ in %

Change sales volume Change revenue

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Revenue by regions

Business Overview

» Revenue share of Germany decreased due to appreciation of USD against EUR and thereby higher share of the Americas

Germany

38.3% (41.9%)

Other Europe

18.2% (18.7%)

17.1% (13.8%)

11.2% (11.0%)

7.5% (7.8%) 1.6% (1.9%)

America

France Switzerland

6.1% (4.9%)

Italy

Africa/Asia/Australia

H1 2015 (H1 2014 in brackets)*

*continuing operations, 2014-figures have been adjusted accordingly

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FINANCIAL PERFORMANCE Q2/H1 20152

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Financial Performance

in EUR m

H1 2015 H1 2014Change

on prior

year (%)

Q2 2015 Q2 2014 Change on

prior year (%)

Sales volume (kt)1) 952 980 -2.9 469 480 -2.3

Revenue1) 1 488.9 1 487.5 0.1 723.2 739.1 -2.2

Adjusted EBITDA1) 117.5 133.8 -12.2 61.1 71.2 -14.2

Adjusted EBITDA margin (%)1) 7.9 9.0 -110 bp 8.4 9.6 -120 bp

Operating profit before depreciation and

amortisation (EBITDA)1) 112.5 130.8 -14.0 58.0 69.9 -17.0

EBITDA margin (%)1) 7.6 8.8 -120 bp 8.0 9.5 -150 bp

Operating profit (loss) (EBIT)1) 49.1 73.8 -33.5 27.6 41.3 -33.2

Earnings before taxes (EBT)1) 26.4 49.6 -46.8 17.4 32.2 -46.0

Earnings after taxes from continuing

operations 12.2 33.5 -63.6 10.3 22.2 -53.6

Net income (loss) (EAT) -117.6 35.2 nm 4.8 22.8 -78.9

Result of operations – key figures

1) Continuing operations, 2014-figures have been adjusted accordingly

» Net income includes EAT from continuing operations as well as from discontinued operations; discontinued operations burdened by impairments of EUR –126.7 m

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Revenue by division

Financial Performance

» Production division: revenue in H1 2015 decreased by 0.5% to EUR 1 382.4 m compared to H1 2014. Better product mix and the appreciation of USD and CHF against the EUR nearly compensated volume losses

» Sales & Services division: significant increase in revenues by 19.1% to EUR 293.0 m due to higher sales volumes and positive translation effects from USD into EUR accounts

H1 2015 H1 2014 Change on

prior year (%)Q2 2015 Q2 2014 Change on

prior year (%)

Production 1) 1 382.4 1 388.7 -0.5 666.5 690.3 -3.4

Sales & Services 1) 293.0 246.1 19.1 145.7 123.7 17.8

SCHMOLZ + BICKENBACH

Group 1) 2) 1 488.9 1 487.5 0.1 723.2 739.1 -2.2

1) Continuing operations, 2014-figures pro-forma

2) Group figures include Other and consolidation/eliminations

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EBITDA and EBITDA margin by division

Financial Performance

1) Continuing operations

2) Group figures include Other and consolidation/eliminations

EBITDA H1 2015 H1 2014 Change on

prior year (%)Q2 2015 Q2 2014 Change on

prior year (%)

Production 1) 111.3 124.4 -10.5 59.9 65.6 -8.7

Sales & Services 1) 11.1 12.5 -11.2 5.7 6.1 -6.6

SCHMOLZ + BICKENBACH Group 1) 2) 112.5 130.8 -14.0 58.0 69.9 -17.0

EBITDA margin H1 2015 H1 2014 Change on

prior yearQ2 2015 Q2 2014 Change on

prior year

Production 1) 8.1 9.0 -90 bp 9.0 9.5 -50 bp

Sales & Services 1) 3.8 5.1 -130 bp 3.9 4.9 -100 bp

SCHMOLZ + BICKENBACH Group 1) 2) 7.6 8.8 -120 bp 8.0 9.5 -150 bp

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EBITDA significantly affected by lower margins and change in currency gains and losses

130.8 -2.3 -7.6-8.4

112.5

0

20

40

60

80

100

120

140

EBITDA H1 2014 Volume effect Margin & cost effect* Cha nge in currencygains/losses

EBITDA H1 2015

Financial Performance

-14.0%

* Excluding change in currency gains/losses

8.8%

7.6%

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Financial Performance

Impairments led to negative EAT

» Net financial expenses decreased by EUR 1.5 m or 6.2% to EUR 22.7 m (H1 2014: EUR 24.2 m)

» Impairments on discontinued operations (EUR 126.7 m) led to significantly negative EAT

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Financial Performance

Financial position: key figures30.6.2015 31.12.2014 Change on

31.12.2014 in %

30.6.2014

Shareholders’ equity EUR m 814.5 900.9 -9.6 900.7

Equity ratio % 32.9 35.9 -300 bp 35.7

Net debt EUR m 637.9 587.2 8.6 633.7

Net debt/Adjusted EBITDA 1) factor 2.7 2.2 - 3.5

Net working capital (NWC) EUR m 928.9 992.3 -6.4 1 068.8

NWC/Revenue 2) % 32.1 29.7 240 bp 36.2

1.1.−30.6.2015 1.1.−30.6.2014 Change on prior year

in %

Financial result EUR m -22.7 -24.2 -6.2

Investments EUR m 77.5 30.7 152.4

Free cash flow EUR m -7.9 -0.8 >100

1) LTM

2) Annualised

» The impairments of EUR –126.7 m on the discontinuing operations had to be recognised with signing, while the assets remain in the balance sheet until closing on 22 July 2015; this led to a temporarily reduced equity ratio

» After closing and assuming all other parameters remain unchanged, a recovery of the equity ratio is assumed

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Financial Performance

31.12.2014 30.06.2015

Net debt │ in EUR m

Cash and cash equivalentsOne-off financing expenses / accrued interestOther financial liabilitiesBondABCP financing programmeSyndicated loan

587.2637.9

Other fin. liabilities

Bond

ABCP financing programme

Syndicated loan

Cash & cash equiv.

51.4

205.8

245.9

72.1

31.12.2014 30.06.2015

Financial headroom│ in EUR m

Cash and cash equivalentsABCP financing programmeSyndicated loan

370.4

314.2

Syndicated loan

ABCP financing programme

Cash & cash equiv.72.1 55.5

94.2

204.1

90.7

168.0

43.9

167.7

209.3

282.0

One-off fin. exp./acc. int. 11.5 9.5

55.5

167.7

Net debt and financial headroom

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OUTLOOK AND GUIDANCE 20153

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» Global economic growth expectations* lowered to between 2.8% and 3.5% expected, USA 2.0% – 3.1%, but Eurozone only 1.4% – 1.5%

» World Steel Association significantly lowered expectations, general steel consumption expected to grow by only 0.5% (previously 2.0%), most important steel consumers with partially significantly lower growth rates than 2014 (Asia 0.6%, Europe 2.1%, NAFTA -0.9%)

» Economic environment for SCHMOLZ + BICKENBACH with mixed signals, steel demand in the relevant markets raises concerns

» Customer industries: global automotive industry expected to grow by ca. 2%, engineering lowered expectations to no-growth-scenario

» Oil price unlikely to reach previous levels, on average only USD 50 per barrel expected; constant decline in fracking business with significant impact on North American business units

» Experts do not expect the Swiss franc to weaken significantly against the Euro

Outlook 2015

Outlook and Guidance 2015

* Source: IMF, OECD and World Bank

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» Impacts from the Swiss franc appreciation : SCHMOLZ + BICKENBACH’s Swiss entities are currently implementing mitigation actions: adjustments in the personnel area, stretching/shifting of capex, negotiating purchasing conditions, enlargement of already existing cost measures, increase of cost awareness

» Impacts of declining fracking business due to low o il price : Finkl Steel is evaluating and implementing mitigation actions: lowering costs by further improving efficiency (sales network, warehouses, headcount, insourcing of maintenance), approaching new customer industries

» Improvement of net working capital management : concrete reduction measures identified by all business units; improvement target rolled-out to the business units to improve NWC by EUR 100 m* (based on 2014 figure) with target mid-2016; new KPI concept to be implemented in reporting tools; training of involved employees to start in September

Measures in response to current challenges

Outlook and Guidance 2015

* Assuming stable raw material prices and exchange rates

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Outlook and Guidance 2015

Guidance 2015 – unchanged since adjustment after disposal of specific distribution units

2014

reported

Initial guidance 2015

(as at 12 March 2015)

Guidance 2015

(as at 19 May 2015)

Guidance 2015(as at 25 August 2015)

Sales volume

2 135

kilotonnes

Should roughly match the 2014 level

Should roughly match the 2014 level less non mill-own volumes from specific distribution units (ca. 300 kilotonnes)

Should roughly match the 2014 level less non mill-own volumes from specific distribution units (ca. 300 kilotonnes)

Reported EBITDA

EUR 252.6

m

EUR 210 m – EUR 250 m EUR 190 m – EUR 230 m

(continuing operations,

currently lower end of

guidance likely)

EUR 190 m – EUR 230 m (continuing operations, currently lower end of guidance likely)

CAPEX EUR 100.8

m

Around EUR 150 m, due to one-off effects in the amount of EUR 44 m

Around EUR 150 m, due to one-off effects in the amount of EUR 44 m

Around EUR 150 m, due to one-off effects in the amount of EUR 44 m

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Q&ATHANK YOU FOR YOUR ATTENTION

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APPENDIX4

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Appendix

Nickel price development

Source: Steel Business Briefing

0

10.000

20.000

30.000

40.000

50.000

60.000

1Feb05

22May05

9Sep05

28Dec05

17Apr06

5Aug06

23Nov06

15Mar07

3Jul07

21Oct07

8Feb08

28May08

15Sep08

3Jan09

23Apr09

11Aug09

29Nov09

19Mar10

7Jul10

25Oct10

12Feb11

2Jun11

20Sep11

10Jan12

18Jun12

20Nov12

1May13

8Oct13

17Mar14

27Aug14

5Feb15

15Jul15

Nickel price development 2005 – 2015 │ in USD

Stainless Steel / Nickel / London Metal Exchange (LME) Cash seller & settlement

25

Appendix

Nickel price development January 2014 – August 2015

Source: Steel Business Briefing

10.000

12.000

14.000

16.000

18.000

20.000

22.000

2Jan14

22Jan14

12Feb14

4Mar14

24Mar14

11Apr14

6May14

27May14

16Jun14

4Jul14

24Jul14

14Aug14

4Sep14

24Sep14

14Oct14

4Nov14

24Nov14

15Dec14

8Jan15

28Jan15

17Feb15

9Mar15

27Mar15

20Apr15

11May15

1Jun15

19Jun15

9Jul15

29Jul15

Nickel price development 1.1.2014 – 7.8.2015 │ in USD / ton

Stainless Steel / Nickel / London Metal Exchange (LME) Cash seller & settlement

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Appendix

Scrap price development

Source: Steel Business Briefing

200

220

240

260

280

300

320

340

1 Jan14

1 Feb14

1 Mar14

1 Apr14

1 May14

1 Jun14

1 Jul14

1 Aug14

1 Sep14

1 Oct14

1 Nov14

1 Dec14

1 Jan15

1 Feb15

1 Mar15

1 Apr15

1 May15

1 Jun15

1 Jul15

Scrap price development January 2014 – July 2015 │ in EUR/t

Scrap / Shredded / N.Europe domestic delivered €/t

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Appendix

Swiss listed company with supportive anchor shareholder

Haefner, Martin

10.17%

Free Float(Shareholders <3%)

15.17%

49.15%

SCHMOLZ + BICKENBACH GmbH & Co. KG1) 3)

Liwet Holding AG1) 2)

25.51%

Key facts

ISIN CH0005795668

Securities symbol STLN

Type of security Registered share

Trading currency CHF

Listing SIX Swiss Exchange

Membership in indices

SPI, SPI Extra, SPI

ex SLI, Swiss All

Share Index

Number of shares 945 000 000

Nominal value in CHF 0.50

1) Form a group according to stock exchange act.

2) Renova group company, the shares held by Venetos Holding AG were transferred to Liwet Holding AG in Zurich as a result of a merger.

3) Indirectly via subsidiaries SCHMOLZ + BICKENBACH Beteiligungs GmbH and SCHMOLZ + BICKENBACH Holding AG.

Shareholder Structure as of 30 June 2015

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Appendix

Financial calendar and contact details Investor Rel ations

Date Event

10 September 2015 Commerzbank Sector Week Conference, Frankfurt a. M.

12 November 2015 Q3 Report 2015, Media Call, Investor Call

Stefanie Steiner Director Investor Relations and Corporate Communications

Phone +41 41 209 5042

Fax +41 41 209 5043

Email s.steiner@schmolz-bickenbach.com

Internet www.schmolz-bickenbach.com

Thank you for your attention